Laboratory Co. of America Holdings (NYSE:LH) CMO Amy B. Summy Sells 3,672 Shares of Stock

Laboratory Co. of America Holdings (NYSE:LH) CMO Amy B. Summy sold 3,672 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the transaction, the chief marketing officer now owns 4,318 shares of the company’s stock, valued at approximately $1,031,613.38. This trade represents a 45.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Laboratory Co. of America Trading Down 1.1 %

LH opened at $238.73 on Wednesday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. The stock has a market capitalization of $19.97 billion, a PE ratio of 46.18, a P/E/G ratio of 1.99 and a beta of 1.05. The business’s 50 day moving average price is $226.67 and its 200 day moving average price is $217.61. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the firm posted $3.38 earnings per share. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Industrial Alliance Investment Management Inc. acquired a new position in Laboratory Co. of America during the second quarter worth $27,000. SouthState Corp acquired a new position in Laboratory Co. of America during the third quarter worth $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the third quarter worth $29,000. Pathway Financial Advisers LLC acquired a new position in Laboratory Co. of America during the first quarter worth $30,000. Finally, Innealta Capital LLC acquired a new position in Laboratory Co. of America during the second quarter worth $32,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LH. UBS Group upped their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Evercore ISI cut their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, September 24th. Robert W. Baird boosted their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Jefferies Financial Group boosted their price objective on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.92.

About Laboratory Co. of America

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.